TL;DR: On August 17, 2026, ASIC warned that scammers use generative AI to build networks of deepfake websites and endorsements, so a quick online search is not enough to verify an investment. ASIC removed more than 19,400 online scams in FY26, a 182% rise on FY25. Scams impersonating the most-targeted public figures caused A$7.4 million in losses in FY26.
What happened
In media release 26-195MR, ASIC says deepfake videos of celebrities and politicians are rising sharply. The most impersonated figures in FY26 were Anthony Albanese, Jacqui Lambie, Angus Taylor, Tom Piotrowski and Alan Kohler, according to the National Anti-Scam Centre.
FY26 takedowns by category were 5,476 phishing scam hyperlinks (up 279%), 7,051 fake investment platforms (up 151%) and 3,106 cryptocurrency investment scams (up almost 30%). Since launching its takedown capability three years ago, ASIC has removed more than 33,400 scams.
Why it works
AI lets scammers produce many convincing sites and endorsements that cite each other, so searching for reviews can lead back to more fakes. Polished content proves nothing about legitimacy.
Urgent pressure to act is itself a warning sign.
Background: our explainers on deepfake scams and investment and trading app scam recovery. See also ASIC Removed 11,964 Scam Websites in 2025, Up 90% and ASIC Finfluencer Crackdown: 63% of Gen Z Use Social for Finance. For wider numbers, see our data page on average loss per victim by scam type.
What ASIC advises
- Be highly cautious of celebrity or influencer endorsements of investments.
- Verify that an investment is backed by an Australian Financial Services Licence, using the licence holder’s name and number on ASIC’s professional registers.
- Check the Moneysmart Investor Alert List for suspected scam companies.
- Follow Scamwatch’s Stop, Check, Protect approach, and report scams to your bank, cyber.gov.au and Scamwatch.
If you have already sent money
Contact your bank immediately, report the scam to Scamwatch and through ReportCyber, and call IDCARE on 1800 595 160 if your identity may be at risk. Our guides on the Scamwatch and IDCARE recovery process, Australian bank impersonation scams and how to reverse a wire transfer scam explain the steps, and what to do after a scam, wherever you live covers the first 24 hours. Scammers often start with details taken from past leaks, so run our free digital footprint check to see what of yours is already exposed.
Frequently Asked Questions
How many scams did ASIC remove in FY26?
More than 19,400, a 182% increase on FY25’s 6,915, according to ASIC on August 17, 2026.
Which public figures were impersonated most?
Anthony Albanese, Jacqui Lambie, Angus Taylor, Tom Piotrowski and Alan Kohler, according to the National Anti-Scam Centre.
How much was lost to scams impersonating them?
A$7.4 million in FY26, based on Scamwatch reports.
How do I check an investment?
Verify an Australian Financial Services Licence on ASIC’s professional registers and check the Moneysmart Investor Alert List.
Sources
- ASIC: 26-195MR, ASIC warns scammers are using AI to spin vast webs of deception (Aug 17, 2026)
- Scamwatch (ACCC)
Related Reading
- ASIC Removed 11,964 Scam Websites in 2025, Up 90%
- ASIC Finfluencer Crackdown: 63% of Gen Z Use Social for Finance
- FCA Week of Action: 1,267 Illegal Finfluencer Adverts Found
- Australia Scam News: October 2026 Roundup and Warnings
- Average Loss per Victim by Scam Type (2025)
- What to do after a scam, wherever you live